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Asset Prices and Time-Varying Risk

Asset Prices and Time-Varying Risk »

Source: Asset Prices and Time-Varying Risk

Volume/Issue: 1988/42

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 1988

ISBN: 9781451975437

Keywords: equation, fiscal reform, government spending, covariance, time series

Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas...

The International Effects of Government Spending Composition

The International Effects of Government Spending Composition »

Source: The International Effects of Government Spending Composition

Volume/Issue: 2005/4

Series: IMF Working Papers

Author(s): Giovanni Ganelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

ISBN: 9781451860238

Keywords: Public spending composition, open economy, employment, equation, public employment, government employment, equations,

This paper helps resolve a paradox in the literature, noticed by Alesina and Perotti (1995), which is that, although government employment is an important component of public spending, the debate on the effects of...

Politically Optimal Fiscal Policy1

Politically Optimal Fiscal Policy1 »

Source: Politically Optimal Fiscal Policy

Volume/Issue: 2007/68

Series: IMF Working Papers

Author(s): Irina Yakadina , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

ISBN: 9781451866322

Keywords: Optimal Fiscal Policy, Incomplete Asset Markets, Government Debt Bias, taxation, government spending, equation, equations, Fiscal Policies and Behavior of Economic Agents: Other,

Why do governments issue large amounts of debt? In what sense and for whom is such a policy optimal? We show that twisting the optimal taxation paradigm produces very reasonable predictions for debt and real intere...

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia »

Source: Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Volume/Issue: 1999/63

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

ISBN: 9781451848403

Keywords: Fiscal policy, Sri Lanka, Pakistan, Tax smoothing, tax tilting, fiscal sustainability, budget surplus, equation, fiscal deficits, government spending

This paper tests a version of Barro's tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for 19...

Resource Windfalls, Macroeconomic Stability and Growth

Resource Windfalls, Macroeconomic Stability and Growth »

Source: Resource Windfalls, Macroeconomic Stability and Growth : The Role of Political Institutions

Volume/Issue: 2011/142

Series: IMF Working Papers

Author(s): Kazim Kazimov , Kirk Hamilton , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455266432

Keywords: Commodity, macroeconomic stability, government spending, standard deviation, economic performance, Fiscal Policies and Behavior of Economic Agents: General, Multiple or Simultaneous Equation Models: Models with Panel Data,

We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-...

Putting the New Keynesian Model to a Test

Putting the New Keynesian Model to a Test »

Source: Putting the New Keynesian Model to a Test

Volume/Issue: 2006/135

Series: IMF Working Papers

Author(s): Roland Straub , and Gert Peersman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863956

Keywords: DSGE models, sign restrictions, government spending, real wages, private consumption, aggregate demand, Multiple or Simultaneous Equation Models: Time-Series Models, Model Construction and Estimation,

In recent years, New Keynesian dynamic stochastic general equilibrium (NK DSGE) models have become increasingly popular in the academic literature and in policy analysis. However, the success of these models in rep...

Asset Prices and Time-Varying Risk

Asset Prices and Time-Varying Risk »

Volume/Issue: 1988/42

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 1988

DOI: http://dx.doi.org/10.5089/9781451975437.001

ISBN: 9781451975437

Keywords: equation, fiscal reform, government spending, covariance, time series

Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas...

The International Effects of Government Spending Composition

The International Effects of Government Spending Composition »

Volume/Issue: 2005/4

Series: IMF Working Papers

Author(s): Giovanni Ganelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

DOI: http://dx.doi.org/10.5089/9781451860238.001

ISBN: 9781451860238

Keywords: Public spending composition, open economy, employment, equation, public employment, government employment, equations,

This paper helps resolve a paradox in the literature, noticed by Alesina and Perotti (1995), which is that, although government employment is an important component of public spending, the debate on the effects of...

Politically Optimal Fiscal Policy

Politically Optimal Fiscal Policy »

Volume/Issue: 2007/68

Series: IMF Working Papers

Author(s): Irina Yakadina , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2007

DOI: http://dx.doi.org/10.5089/9781451866322.001

ISBN: 9781451866322

Keywords: Optimal Fiscal Policy, Incomplete Asset Markets, Government Debt Bias, taxation, government spending, equation, equations, Fiscal Policies and Behavior of Economic Agents: Other,

Why do governments issue large amounts of debt? In what sense and for whom is such a policy optimal? We show that twisting the optimal taxation paradigm produces very reasonable predictions for debt and real intere...

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia »

Volume/Issue: 1999/63

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

DOI: http://dx.doi.org/10.5089/9781451848403.001

ISBN: 9781451848403

Keywords: Fiscal policy, Sri Lanka, Pakistan, Tax smoothing, tax tilting, fiscal sustainability, budget surplus, equation, fiscal deficits, government spending

This paper tests a version of Barro's tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for 19...